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20130124
20130201
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for servicing government debt or an increase of over 1%. also for the first time in four years, tax revenues are expected to exceed what the government would get by issuing new bonds. the government expects tax revenues to total over $473 billion, or nearly 2% more than in this fiscal year. meanwhile, new bond offerings will fall by 3% to about $470 billion. japan still relies on government bond sells for 46% of its total revenue. the outstanding balance of government debt is expected to total about $8.2 trillion at the end of fiscal 2013. to repay it, the nation requires 17 years worth of tax revenues. the total debt also translates into almost $65,000 per person. the government plans to submit the draft budget to the diet for approval by the end of next month. >> japanese workers may soon have a few more yen in their pockets if union leaders get their way. union and business leaders are discussing a proposed wage hike. to repay it, the nation requires 17 years worth of tax revenues. the total debt also translates into almost $65,000 per person. the government plans to submit the draft budg
taxes. >> two very different approaches, but which went down better at davos? our correspondent has more. >> angela merkel can be joyful and comical. today, she was not. she was serious while cameron was casual, full of british humor, selling himself and his country, he even got applause during his speech, and although most people here criticized sharply his plans for a referendum, he did not say a lot about this topic today. he sold it as his duty to deliver the referendum to the british citizens. in contrast, angela merkel did not try to be entertaining. she emphasized the common interests of britain and the european union, like structural reforms, free trade agreement with the united states, and make europe more competitive, obviously trying to deal with a new conflict as coolly as possible, a strategy that has brought her a lot of success in the last years. thursday was the day of cameron and merkel. now everybody is heading to one of the numerous parties if they have enough energy, and tomorrow, we will continue the discussion over the role of the central bank's -- banks now and in
parliament he was planning a new stimulus package. he hopes in particular to ease the tax burden on export-driven businesses. >> we are going to implement structural reforms with even greater force and adopt new measures to stimulate growth. our priority is to reduce youth unemployment, and we are already cooperating with unions and businesses to achieve this. >> there's mounting frustration on the streets. unemployment in the country has risen to 26%. half of young people are out of work. but the eu has signaled it is willing to relax rules on spain, which could help soften the austerity measures apparently crippling the country. >> germany may be about to drop its objections to bailing out cyprus. despite misgivings about reports of money laundering by the island's thanks. >> a number of politicians in germany have accused separate banks of holding significant illegal deposits with russian money, something they deny. they had threatened to refuse to finalize a bailout unless the country clean up -- clint of its act, but berlin is reported to have relented after pressure from other eurozo
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